Analysts Offer Predictions for Taseko Mines FY2024 Earnings

Taseko Mines Limited (NYSE:TGB) – Investment analysts at National Bank Financial dropped their FY2024 earnings per share estimates for Taseko Mines in a report issued on Monday, December 9th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings of $0.13 per share for the year, down from their prior estimate of $0.15. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for Taseko Mines’ current full-year earnings is $0.16 per share. National Bank Financial also issued estimates for Taseko Mines’ FY2026 earnings at $0.23 EPS and FY2027 earnings at $0.50 EPS.

Separately, StockNews.com upgraded shares of Taseko Mines from a “sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Taseko Mines presently has an average rating of “Buy” and a consensus price target of $3.50.

Taseko Mines Stock Down 3.9 %

TGB stock opened at $2.09 on Thursday. The business’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.29. Taseko Mines has a 1-year low of $1.14 and a 1-year high of $3.15. The firm has a market capitalization of $634.93 million, a PE ratio of 10.97 and a beta of 1.72. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48.

Taseko Mines (NYSE:TGB) last issued its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $114.08 million during the quarter, compared to the consensus estimate of $112.48 million. Taseko Mines had a net margin of 12.69% and a return on equity of 15.25%.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in shares of Taseko Mines by 82.3% in the third quarter. Tidal Investments LLC now owns 13,693,081 shares of the company’s stock worth $34,507,000 after purchasing an additional 6,182,981 shares during the period. Bank of Montreal Can boosted its position in shares of Taseko Mines by 296.8% during the 3rd quarter. Bank of Montreal Can now owns 3,160,574 shares of the company’s stock valued at $8,225,000 after acquiring an additional 2,364,116 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company’s stock worth $14,465,000 after purchasing an additional 755,192 shares in the last quarter. American Century Companies Inc. increased its position in shares of Taseko Mines by 752.2% in the second quarter. American Century Companies Inc. now owns 703,954 shares of the company’s stock worth $1,734,000 after purchasing an additional 621,352 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in Taseko Mines in the second quarter valued at approximately $1,192,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company’s principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.